Eswatini - MIC TAF support to PFM Reforms (AFDB-P-SZ-K00-010)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Eswastini
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 30, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Eswatini - Ministry of Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.73 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 0.86 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jan 5, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed Middle Income Countries Technical Assistance Fund (MIC TAF) grant of UA 550,000 aims to strengthen public finance management in Eswatini, thereby contributing to overall economic governance and public sector effectiveness. The Bank's intervention responds to the government's request of 26 June 2024 for support in developing a PFM roadmap, implementing the IFMIS, and undertaking the PEFA assessment. This will be achieved by providing targeted technical assistance and knowledge transfer to facilitate the implementation of the Public Finance Management Act (PFMA) 2017 (as amended). The PEFA assessment will identify key gaps to inform the development of a comprehensive roadmap for PFM reforms, which are essential for the implementation of the Act and its regulations. Supporting the implementation of the IFMIS will improve budget preparation and execution, enhance financial reporting and ensure effective internal controls and audit practices within the Eswatini government, thereby strengthening transparency and accountability. 

The overarching development objective of the programme is to improve public financial management (PFM) and strengthen the efficiency of public spending. The project has two components i) Providing support to IFMIS implementation; ii) Supporting the development of a holistic road map for PFM Reforms.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environmental Category: [3] Low Risk

According to the Appraisal Report, the project is not directly exposed to any climate physical risks. Using the Bank Climate Safeguard System (CSS), the project is classified as category 3.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The project will be implemented over a period of three years. It is estimated that the project will become effective by April 2025 and close in March 2028. The MIC grant's total financing is UA 550,000 (USD 732,396.50).

Government Counter part 15%: UA 97,509
Total Cost: UA 647,509


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Name: Baboucarr KOMA
Email: b.koma@afdb.org

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process.

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/

How it works

How it works